Sampo plc Annual General Meeting 16 April Björn Wahlroos Chairman of the Board

Transcription

1 Sampo plc Annual General Meeting 16 April 2015 Björn Wahlroos Chairman of the Board

2 ECB deposit rate is negative ECB and FED deposit rates FED ECB Source: Thomson Reuters Datastream

3 Eurobond yields heading for negative territory US and Germany government bond yields Source: Thomson Reuters Datastream

4 Valuation by industry 25 Average P/E by industry, S&P S&P 500 Financials S&P 500 Info Tech S&P 500 Energy S&P 500 Health Care S&P 500 Industrials S&P 500 Cons Staples 0 12/ / / / /2014

5 Sampo Group remuneration* EURm Total EURm Total EURm 446 Total EURm Total EURm In short- and long-term incentive programs ~ 130 managers ~ 5,900 employees Total personnel ~ 6,700 employees Fixed salaries Short-term incentives Long-term incentives * Not including pension costs or other social security costs (2014: EURm 150; 2013: EURm 156; 2012: EURm 142).

6 Sampo continues to deliver TSR vs. comparison index Annual total return ~21% Market Cap EUR 27.5 bn as of 10 April 2015 (EuroSTOXX Banks & EuroSTOXX Insurance, market value weighted, total return) Source: Thomson Reuters Datastream

7 Sampo plc Annual General Meeting 16 April 2015 Björn Wahlroos Chairman of the Board

8 Sampo plc Annual General Meeting 16 April 2015 Kari Stadigh Group CEO and President

9 Profit before taxes grew in all businesses EURm 1,800 1,600 1,400 1,200 1, Sampo Group s profit before taxes / / If P&C Mandatum Life Nordea Holding (excl. Nordea) 1,759 1,668 Sampo Group

10 Another year of good results for Sampo Group EUR EPS (reported) EPS and Comprehensive result EPS / /2014 EPS (comp. result) EUR Reported EPS by quarter Q4/13 Q1/14 Q2/14 Q3/14 Q4/14

11 Net asset value per share increased further EUR

12 Majority of investments in fixed income assets Equities 16% Investment allocation, Sampo Group 31 December 2014 Private equity 2% Real estate 2% Other 2% Money market 20% Total EUR 19.2 billion Mandatum Life 35% Investment assets by company 31 December 2014 Sampo plc 5% Public sector 13% If P&C 60% Other fixed income 45%

13 Fixed income running yield continues to decrease Fixed income running yield 3/ / % 5.0% 5.0% 5.4% 4.8% 4.0% 3.0% 2.0% 3.9% 4.1% 3.6% 3.7% 2.9% 3.1% 2.4% 1.0% 0.0% If P&C Mandatum Life

14

15 Best ever combined ratio % Combined ratio of If P&C Cost ratio Risk ratio Long-term target < 95%

16 Topdanmark has been a great investment EURm 1, /31/2015 Book value of the investment Fair value of the investment

17 Share of online claim reports (If Private) 35% 32% 34% 35% 30% 28% 26% 25% 20%

18 Employee satisfaction Average on different business areas If total Commercial Spring 2012 Autumn 2013 Spring 2013 Autumn Scale 1-7, 1 = Totally disagree and 7 = Totally agree A good result 5.5 for management teams and 5.0 for employees 2014 Spring 2014 Autumn Private Industrial

19

20 Nordea Highlights Robust result in a challenging environment 2014 vs Revenues are up 2%* Costs are down 1%* Loan losses are down 26%* Operating profit is up 12%* Improved Common Equity Tier 1 ratio to 15.7% (13.9%) Proposed dividend of EUR 0.62 per share (EUR 0.43) More customers and strengthened customer relationships Continued strong inflow of relationship customers 90,000 in 2014 All time high inflow in assets under management of EUR 18.6 billion Consolidated our position as the leading bank of large corporates * Excluding currency effects and non-recurring items

21 Nordea Strategic priorities Strategic priorities 1 2 Build on global product capabilities and superior Nordic distribution power Leverage on Pan-Nordic platforms and scale opportunities Improved income mix and growth Continued cost efficiency Disciplined capital management 3 Sustain actively managed portfolio with low volatility Stringent risk management 21

22 12/31/2009 3/31/2010 6/30/2010 9/30/ /31/2010 3/31/2011 6/30/2011 9/30/ /31/2011 3/31/2012 6/30/2012 9/30/ /31/2012 3/31/2013 6/30/2013 9/30/ /31/2013 3/31/2014 6/30/2014 9/30/ /31/2014 3/31/2015 Nordea Correction in valuation EUR Share price, lhs Book value, lhs Average acquisition price EUR 6.46 per share, total EUR 5.6 billion Share price on10 April 2015 EUR per share, value of the holding EUR 10 billion Cumulative dividends received by Sampo from Nordea by April 2015 EUR 1.9 billion

23

24 Unit-linked assets reached an all time high EURm 12,000 With-profit and unit-linked technical reserves of Mandatum Life 10,000 8,000 5,312 6,000 4, ,262 1,752 2,071 1,637 2,359 3,124 3,054 3,833 4,616 1,337 2, ,652 4,626 4,738 4,695 4,621 4,487 4,431 4,410 4,249 4,071 3,927 3, With-profit Segregated assets Unit-linked

25 Segregated assets Suomi Mutual With-profit group pension portfolio was transferred to Mandatum Life on 30 December 2014 Comprises approximately 2,300 policies and 34,000 members Transferred assets and liabilities total EUR 1.3 billion Allocation of assets of the segregated portfolio 31 December 2014 Total EUR 1.3 billion Equities 8% Other 11% Money market 33% Fixed income 48%

26 ML European Small & Mid Cap 05/15/ /16/ /14 06/14 07/14 08/14 09/14 10/14 11/14 12/14 01/15 02/15 03/15 ML European Small & Mid Cap Vertailuindeksi Comp. index (STOXX Europe Small 200 NTR) 1month 3months 6months YTD From the start ML European Small & Mid Cap 8.47% 28.36% 27.75% 22.94% 25.76% Comparison index 5.80% 23.09% 21.16% 17.34% 18.85%

27 ML Korkosalkku Abs 11/17/ /26/ /08 5/09 11/09 5/10 11/10 5/11 11/11 5/12 11/12 5/13 11/13 5/14 11/14 ML Korkosalkku Abs 1month 3months 6months 12months YTD From the start ML Korkosalkku Abs 0.37% 1.68% 1.35% 3.14% 1.68% 48.06%

28 Customer satisfaction has improved in all Mandatum Life customer segments * Wealth management Corporate customers Private customers Mandatum Life s customer satisfaction index is not comparable with other NPS (Net Promoter Score) figures. * Wealth management customer satisfaction index from year 2010

29 Sampo plc

30 Sixth consecutive year of dividend growth in Sampo plc EUR Dividend per share * * Board s proposal to the AGM held on 16 April 2015

31 Strong internal cash flows guarantee dividend growth EURm Internal cash flow vs. dividends, spring ,400 1,200 1, , ,092 Dividend from Nordea in Q1/2015 Dividend from ML in Q1/ Internal cash flow Board's dividend proposal to the AGM on 16 April 2015 Dividend from If in Q4/2014

32 Sampo has been a great investment TSR vs. comparison indices Annual total return ~21% Market cap EUR 27.5 bn as of 10 April 2015 (EuroSTOXX 600 Banks and EuroSTOXX Insurance, market value weighted, total return) Source: Thomson Reuters Datastream

33 Sampo plc Annual General Meeting 16 April 2015 Kari Stadigh Group CEO and President